Lucid Raises $8M to Grow ‘Smart Building’ Platform

Lucid has raised $8.2 million in Series B funding to expand the capabilities of its BuildingOS platform. BuildingOS provides device connectivity and analytics in commercial buildings to help building managers make better decisions and improve performance.

Formation 8 Partners led the funding round, which also included investment from Zetta Venture Partners.

Lucid’s “operating system” for buildings serves as a central information hub for every system, meter and device. It connects with more than 150 metering and building systems, including building automation, submeters, lighting and plug load controls, on-site generation and demand response, as well as electric and gas utilities. The platform also provides instant integration for supported vendors’ Internet-connected hardware, and real-time analytics.

Building automation is a $35 billion global business and is growing at a rate of 55 percent annually, according to Lucid, adding that 94 percent of commercial buildings don’t have advanced building systems.